News Archive for April 2022

A pinch and a punch for the first day of the month - it’s May! And with Mother’s Day, the end of the financial year and Taurus season all coming up, there’s a lot to get through.

All in this week’s best banking news recap: editor’s pick.

We've been spending a lot of time at home lately, so it makes sense to get an internet plan powerful enough for all our needs. Between 5G and NBN, we're spoiled for choice – but which is better? Let's break down the pros and cons.

Last year, Commonwealth Bank introduced a green home loan offer, which rewards new and existing customers for reducing their dwellings’ environmental footprint.

Are you stuck trying to think of something to get your mum for Mother’s Day? Luckily, two of our favourite online shops, Myer and The Iconic are currently having sales on a wide range of gifts that your mum is sure to love.

Since 5G mobile began to roll out in Australia in 2019, it has expanded to cover approximately 75% of the Australian population. But the question remains: how much of Australia actually can get their phones on this network?

Are you under 35? You’re in luck, as it turns out that some banks offer special rates that apply to certain age brackets. When it comes to savings accounts, utilising whatever you can to get the best deal possible can be helpful in your wealth building journey.

Data released today by the Australian Bureau of Statistics shows headline inflation rose to 5.1% over the last 12 months, confirming Australians' cost of living concerns and increasing the likelihood of a pre-election interest rate hike.

With petrol prices out of control and Elon Musk’s Tesla making moves in Australia, Australians have once-again driven up their demand for electric vehicles (EVs).

Knowing how to effectively save is an important life skill and the earlier you can perfect this skill, the more your savings can grow.

The Reserve Bank of Australia is widely expected to lift official interest rates in the coming months, with markets split 50-50 on whether the first move will be made at its May 5 meeting or a month later.

Australia has seen an increase in electric vehicle sales over the last few years, especially now that increasingly affordable options are available. According to ABS data in 2021, electric vehicle registrations increased by 62% from the previous year.

NAB has become the latest Big Four Bank to raise fixed rates for home loans, joining ANZ, Westpac, and CommBank in the continuing saga of the April rate-hike scramble.

We all love a good ‘dinner in front of the TV’ situation. But there’s nothing worse than when your food goes cold before finding something to watch.

We’ve all heard about popular apps such as Duolingo, TikTok and Shazam but if you want to spice up your phone with some new apps, here are a few good suggestions!

Has having everyone home for Easter got you thinking about upgrading your bathroom, wanting to redo your garden or ready to reno your whole house?

Interest is the cost of borrowing money, where a fee is paid to a lender in exchange for a loan. Interest is usually expressed as a percentage, known as an interest rate.  For example, if you’re taking out a loan from the bank, they will add the interest (which is calculated over a set period of time) to the overall loan amount until you pay it all back. This is how the bank makes money.However, interest can also work in your favour, as in the case of savings accounts and term deposits. With these you are essentially lending money to the bank, who will pay you the interest you accrue after a set period of time. In both of these cases, the type of interest charged can be simple or compounded interest. So, what are the differences? Which is better? Is there even a better option? Moreover, how can you calculate the interest you’ll pay or receive? Let’s find out:

No place like home, hey? Movie houses can be iconic parts of cinema magic, from the cosy crush of Full House to the spooky nostalgia of Disney’s Haunted Mansion. Childhood memories abound of wacky hijinks and just so. Much. Property damage!

The much anticipated Pixel 6a from Google seems closer every day, and while there’s no firm date set in stone for the phone's release, there are a few clues popping up around the internet.

The Reserve Bank of Australia has offered the clearest sign yet that it intends to raise the cash rate, meaning mortgage holders around the country could be looking at a very different interest rate environment in the coming months.

With rising home loan interest rates and costs of living on everyone’s mind, there may be relief on the horizon. This month, the Victorian government announced plans for an Affordable Housing Rental Scheme aimed at closing the housing gap and alleviating rental stress.

The first third of 2022 has been difficult, seeing unprecedented weather, a geopolitical crisis leading to global inflation and the residual impacts of the pandemic. Despite the real financial impacts of these troubles, Citi Australia’s debit and credit card spending data shows that Aussie consumers are looking to return to the pre-pandemic normal.

If you’ve been within an inch of a conversation about investing in the last few years, you might’ve heard the term ‘exchange-traded funds’ thrown about.

ANZ and Westpac have joined CBA in announcing changes across their fixed rate home loans last week, with hikes nearly across the board for both investment and owner occupier products. These announcements now mean three out of the Big Four Australian banks have joined the April rate-hike scramble.

Forget 12 days of Christmas, how about twelve days of free public transport? Over the Easter long weekend, and through to the end of the school holidays, all public transport across the Opal Network in New South Wales will be free.

Have you ever been scammed while trying to buy something online? According to Westpac, online scams are costing Australians hundreds of millions each year.

Looking to update your winter wardrobe ahead of the cooler seasons? Now may be a good time to start shopping, with various companies offering significant sales on a range of products including clothing, shoes and accessories. Mozo has reviewed and chosen a couple of the best sales available, readying you for a stylish transition into the cooler months.

Property analysts at CoreLogic have noted a quarterly decline in dwelling values across 24% of suburbs in capital cities, most of them in Sydney and Melbourne.

Easter eggs are great – but cheap video games are better. Lucky for you, it’s time for the epic annual PlayStation Store Easter sale!

With Easter here I've started thinking more intently about hot cross buns. They're delicious, yes, but where did they come from? And were they actually ever sold anywhere for a penny as the song implies?

With more and more streaming services and apps popping up daily, it’s becoming increasingly difficult (and expensive) for consumers to keep on top of their subscriptions.

For the second time in three weeks, Commonwealth Bank hiked fixed rates across home loans, lifting 2-year interest rates (OO, P&I) as much as 50 bp. This move follows the continued April trend of rate-hike fever, which has affected all four big banks.

With Easter approaching fast, and the school holidays just around the corner as well, there are plenty of ways to save on gifts and deals ahead of the break with the Amazon Smile Day Sales. From outdoors and gardening essentials, to computers and electronic gadgets, these deals should put a smile on your dial!

All in this week’s best banking news recap: editor’s pick.

Cash gifts are the best gifts: it is known.

Economists at Westpac brought forward their interest rate hike expectations this week, following a surprise shift in messaging by the Reserve Bank of Australia at its most recent policy meeting.

Those who bank with BOQ, rejoice! There’s an exciting new range of hi-tech home insurance products available to you exclusively from Australia’s first smart home insurance provider, Honey Insurance.

You buy clothes that fit your personality, lifestyle and size, so shouldn’t you be choosing a bank account the same way? The goal being to search for one that most perfectly fits with your needs and life. Because one size does not fit all.

Reach around under your sofa for a couple minutes, because Telstra has a wild $2 deal on home internet as part of the April Telstra Day sale.

Remember when the Sydney Harbour went brown after flooding? Aesthetics may be only a hint of the impending disaster.

Investing in property has amazing benefits, from rental income and tax deductions to impressive capital gains. But even a casual browse of home loans reveals that investors tend to get saddled with higher interest rates than owner-occupiers. What gives?

Let's face it: things are exxy. Pricey. Costing all the dollarydoos! From food to fuel to housing, the ballooning cost of living has got many Australians breathing into a paper bag.

New research from Allianz Australia reports 68% of Australians do not have insurance for the valuables they take with them on holiday and 2 in 5 confess they didn’t know valuable items could be insured as an option under their home contents insurance policy.

April has been designated as Financial Literacy Month and in light of this, Montessori Australia has announced that it is partnering with Raiz Invest to help fill the gap in financial literacy education among kids.

If you’ve built up a decent amount of credit card rewards points, you’ll want to make sure you get to use them. Each credit card offers a different rewards system - with some cards allowing you to automatically earn Qantas Points, while other companies have their own points systems where you can earn points and later convert them into rewards - such as frequent flyer points.

If you’ve been keeping up with property news, then you’ll know that housing values across Australia have been growing at an alarming rate. However, in some good news for first home buyers, CoreLogic’s most recent national home value index found that it is now slowing down!

Cost of living got you down? Fear not friends, we at Mozo are here to help. No need to sweat the small stuff, or the large either! Home loan repayments can stack up, so can your grocery and home internet bills, plus not to mention your ongoing insurance premiums for the car or home. Living comes with lots of costs but they needn't get you bogged down!

The Reserve Bank of Australia is looking to keep a low profile ahead of the May federal election, but it has given the strongest signal yet that its pandemic-era stimulus will be dialled back in the coming months.

Ladies and gents, boys and girls. The 2023 Sydney Royal Easter Show kicks off in just a few weeks! I can already smell the Dagwood Dogs (and an oddly nostalgic mix of animal smells).

Bitcoin! Blockchains! Environmental Crisis?

We’re back with Mozo’s Monthly Banking Roundup; let’s unpack the latest news.

All in this week’s best banking news recap: editor’s pick.

Buckle in, folks. After the chaotic Christmas and New Year’s period - April’s got to be the next busiest time of the year.

In anticipation of the Reserve Bank’s new cash rate increase announcement, many banks have begun to jump the gun and hiked their rates–especially fixed rates.

Australia has seen an increase in electric vehicle sales over the last few years, especially now that there are increasingly affordable options available.